Kevin Warsh says AI is about to make everything cheaper, which sounds incredible until you remember corporations have never met a cost savings they could not quietly turn into margin. In Episode 344, Chris and Saied break down the Fed’s shiny new task forces, the strange cast of academics, CEOs, and venture capitalists chosen to “modernize” monetary policy, and the growing fear that Washington is not fixing the inflation data so much as shopping for a model that produces a friendlier answer. From Costco getting punished for merely being excellent, to Tinder trying to manufacture growth in a country that no longer goes out, to grocery prices outrunning wages while consumer credit keeps climbing, this episode asks the question nobody at the Fed seems eager to answer: if AI creates a productivity boom but prices never come down, who exactly is the boom for?

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🔗 Resources:

The Fed Chair just made the case for rate cuts without saying "rate cuts." (Aaron Bennett via X)

Warsh just announced the members of his 5 task forces (Heather Long via X)

Why Did Costco Stock Fall Today? Because It Had ‘Little Room for Error’ (Investopedia)

He Earns $33 an Hour as a Costco Cashier. Now He’s a Millionaire (The Wall Street Journal)

Costco sees ‘unprecedented demand’ for gas (BNN Bloomberg)

Reducing the pressure of dating, building products Gen Z actually wants (Spencer Rascoff via X)

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